April 16 (UPI) — The U.S Treasury Department on Wednesday announced sanctions on a Chinese refinery for allegedly importing more than a billion dollars in Iranian oil.
The Treasury sanctioned Handong Shengxing Chemical Company, which it said is a front for Iran’s Islamic Revolutionary Guard Corps-Qods Force.
“Any refinery, company, or broker that chooses to purchase Iranian oil or facilitate Iran’s oil trade places itself at serious risk,” said Secretary of the Treasury Scott Bessent in a statement. “The United States is committed to disrupting all actors providing support to Iran’s oil supply chain, which the regime uses to support its terrorist proxies and partners.”
Also sanctioned were several companies and vessels Treasury said are responsible for facilitating Iranian oil shipments to China as part of Iran’s “shadow fleet.”
The ships Nyantara, and Reston were sanctioned for allegedly transporting Iranian petroleum. Other alleged “shadow fleet” vessels sanctioned include the Egret, the Bestla and the Rani.
They have shipped billions of dollars worth of Iranian oil, according to the Treasury Department.
Companies alleged to operate those ships were also sanctioned.
They include Panama-based Oceanic Orbit; Malaysia-based Pro Mission SDN BHD, Marshall Islands-based Bestla Company Limited; Hong-Kong-based Dexiang Shipping Co.; Panama-based Civic Capital Shipping; and Starboard Shipping Inc.
According to the Treasury Department between March 2020 and January 2023, Shandong Shengxing sent over $800 million in wire transfers to China Oil and Petroleum Company.
Treasury alleges that China Oil is actually a front company for the IRGC-QF that has “laundered billions through the U.S. financial system in support of the IRGC-QF, $108 million of which was seized by the Justice Department.”
In March, the Treasury Department sanctioned Shandong Shouguang Luqing Petrochemical Co. Ltd., another alleged Chinese ‘teapot” refinery for importing Iranian oil.
The company’s legal representative and chief executive officer Wang Xueqing was also sanctioned.
